Man City were once as short as 2/7 to seal a deal for the Chilean this month, but the bookies have slashed odds on Man United making a move from 16/1 to just 11/4, putting them firmly among the frontrunners for his signature.
City have drifted to 1/2 as a result as money continues to come in for the Red Devils to sign the Arsenal ace.
Alex Apati of Ladbrokes said: "We always thought Sanchez would be making a move to Manchester this month, but the latest odds suggest a shock switch to the red half of the city might now be on the cards."
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Ladbrokes Latest Betting
Alexis Sanchez club on February 1
Man City - 1/2
Man United - 11/4